Moroccan businessman and politician Moulay Hafid Elalamy has an estimated net worth of $620 million as of 2015, according to Forbes. He is the founder and the owner of the Saham Group.
Elalamy was born on January 13 1960 at Marrakech, Morocco. He earned his graduation (information systems) from the Université de Sherbrooke in Quebec.
Elalamy started his career in Canada as a senior advisor to the Ministry of Finance of Quebec. He returned to Morocco and founded the Saham Group SA in 1995. Currently he is its chairman, president and chief executive officer. The group has many subsidiaries. One of its subsidiaries, CNIA Saada, is the largest insurance company in Morocco.
Other activities of Saham Group include call centers in partnership with German media company Bertelsmann, as well as clinics. In 2014, Wendel, a French investment firm, acquired 13 percent of Saham for $100 million.
Elalamy is also the founder, chairman, chief executive officer and president of Saham Finances SA. He has served Saham Assurance SA as its chairman and managing director. He has also been a director of Label Vie SA since 2007. Currently he is a director of Colina Holdings Ltd.
Moulay Hafid Elalamy serves his nation Morocco as its Minister of Industry, Trade and New Technologies. He is married and lives in Casablanca, Morocco.